London-based Aston Carter was sold to a team led by its managing director and co-founder Sean Zimdahl.

He was joined in the buy-out by fellow directors Stuart Hurwitz, Brent Harris and Justin Porritt. The team was backed by Baird Capital Partners Europe, a mid-market private equity firm, which has taken a majority shareholding following its £13 million investment.

Baird’s funding, which was managed by Chris Harper and James Benfield, was bolstered by a loan from Barclays.

Aston Carter has offices in Stockholm, Dublin, Brussels and Singapore. In the year to March 2007, it generated revenues of £78 million and served clients such as Barclays Capital, Merrill Lynch, KPMG and Ernst & Young. The company was established in 1997 and today employs 170 people.

Baird has experience in the recruitment sector following its investments in Capital Consulting, an outsourcing specialist; Public Recruitment Group, a public sector recruiter; and Teams BS, which sources temporary staff.